ABSTRACT
One of Russia’s most fundamental transformations after communism is its adoption of a market economic system. Post-Soviet Russia has seen two periods of intense economic reform: 1991-93 and 1998-2002. The first period of the Yeltsin and Gaidar reform laid the foundations of a market economy. After the financial crash of August 1998, the Russian government finally balanced its state budget and carried out a second generation of market reforms (Åslund 2007a).
